Current assets are 8,178,449, down a little in the previous 6 months figure of 8,511,932 but offset (in a BIG way) by the improvements in Current liabilities of 16,992,693 down from 20,420,598. Whilst this is still negative NET current assets, the business has a big non current asset in the buildings and equipment.... and a big improvement in their overall net ASSETS (some $2.6mill). My point is that the business is better than what it was 6 months ago (in lots of ways) and yet the SP is down substantially since then. I don't get it really, other than to say that 6 - 12 months ago, investors clearly were 'happier' with a negative Current assets position, but now they are not, even though just about every other metric has improved, and the new cap raise lifted the current assets too, but is not reflected (at least not fully) in the Dec 31 figures.
I guess investors are simply doing what investors do..... they pay too much and overshoot true value when a stock looks 'hot', and oversell and pay too little when a share languishes as is the case now. For me, I'm going to hang in until the end of this FY at least as IMO the company has turned the corner and eventually the SP will rise as the message gets out. I said 6c by Christmas previously, but did I say which year?? I reckon this the year, and doubling money in 12 months is Ok for me?
FOD Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
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